Even the most aggressive bill collectors must sometimes resign themselves to writing off some debts.
Whether the difficulty is because of a bankruptcy, the death of a debtor or the lack of adequate records to legally support the claim, most banks, retailers and others with stale receivables on their books know that the time may come to just walk away and take the loss.
That moment may be at hand in the case of Santa Rosa County’s disputed right to an estimated $180,000 in uncollected lease fees for the 14 units at Sugar Dunes condominiums on Tina Drive in Navarre Beach.
After more than a year of wrangling with county officials and the three-decade-old condo complex’s developer, Phil Babiak, the leaseholders’ board of directors has begun depositing the annual fees of roughly $7,720 in an escrow account.
Read the full article in the Sept. 15 issue of Navarre Press. Click here to subscribe for as little as $38 per year.